Following a review by accredited independent verification company, BEE – Matrix, Hytec is now a certified Level 5 broad-based black economic empowerment (BBBEE) contributor, as per the generic BEE scorecard.

As a Level 5 contributor, Hytec contributes 80% to its clients’ Preferential Procurement score, which is 10% higher than the 70% target set in the Codes for 2012.

Hytec also qualifies as a Value Added Supplier, with its net profit before tax plus labour costs exceeding 25% of its total revenue. This entails an additional 20% recognition to its clients’ preferential procurement score. Thus, Hytec’s clients can recognise 100% of their procurement with Hytec on their preferential procurement score.

As per the Department of Trade and Industry’s (dti) Codes of Good Practice, Hytec is also a Category B Enterprise Development beneficiary. This means that its clients can secure Enterprise Development points if they implement an early payment plan with Hytec, or any other qualifying contribution as per the Codes. In terms of the early payment plan, clients are eligible for a 10 to 15% rebate of the invoice value, on condition that payment is made to Hytec within 10 days of the invoice date.

In addition, Hytec has effective BEE shareholding exceeding 25%, which makes the company compliant with the Revised Mining Charter, released in September 2010.

View the new Hytec BBBEE certificate….